Chamber wants direct lending by IDBI in Jammu

The Chamber of Commerce and Industry (CCI), Jammu, has demanded direct lending by the Industrial Development Bank of India (IDBI) here and also wants upgrade of its Jammu branch for full operation.

A delegation of the Jammu Chamber members led by its president Ram Sahai met IDBI (North Zone) Chief General Manager R C Razdan during his visit here and took up the issue related to the industrialists of Jammu.

The issues related to general working of the IDBI and public dealing were also taken up with the visiting CGM. The Chamber demanded full banking activities of the IDBI here.

Sahai asked for Jammu office of the IDBI to be upgraded and direct lending be started at the earliest.

He also asked the mini-hydel projects here should be taken up on priority by the Bank in view of the privatisation of the power sector and the competitive terms besides relaxation in equity norms be ensured.

He suggested public in general should be made aware of the IDBI's working and its schemes for the benefit of all types of borrowers and customers.

The Chamber president further sought that the IDBI should improve its credit-deposit ratio in J&K and make adequate arrangements for the speedy clearance of the loan cases.

Razdan, while assuring full transparency in the disposal of pending cases, said a special team from the Zonal headquarters will be deputed to J&K shortly. He claimed good promoters and business houses would be given due consideration while clearing those cases.

He said Zonal office of the Bank was competent to deal with the cases up to Rs 50 crore whereas, the cases pertaining to bigger amount could also be disposed off in the shortest possible time.